Just like models constructed in other areas of science,economic models
A) incorporate assumptions that contradict reality.
B) incorporate all details about the real world.
C) complicate reality.
D) All of the above are correct.
Correct Answer:
Verified
Q35: Economic models
A)cannot be useful if they are
Q36: Which types of models are built with
Q38: A model can be accurately described as
Q39: The 1973 war in the Middle East
Q41: In a circular-flow diagram,
A)taxes flow from households
Q42: In the simple circular-flow diagram,the participants in
Q44: Which of the following statements about economic
Q50: Economists build economic models by
A)generating data.
B)conducting controlled
Q65: Factors of production are
A)used to produce goods
Q75: Which of these terms are used interchangeably?
A)"goods
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents